So far the wheat market is trading 2 to 5 cents in the black to start the Thursday day session. The midweek wheat market settled at or near the lows with double digit losses. SRW prices ended 8 ¾ to 12 ¾ cents weaker with a 2% loss for March. KC wheat futures closed down by 13 ½ to 16 ½ cents, including a 2.6% loss in the March contract. Minneapolis spring wheat futures were down by 8 ½ to 10 ¼ cents across the nearby contracts.
Export Sales data is anticipated to show between 200k MT and 600k MT of wheat was sold during the week that ended 12/14.
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Argus Media projects French 2024 soft wheat acreage will drop 11% (530,00 HA) to 4.24 million HA (10.47 million ac) due to poor fall planting weather. That would be their smallest acreage since 2000.
Mar 24 CBOT Wheat closed at $6.10, down 12 3/4 cents, currently up 4 3/4 cents
May 24 CBOT Wheat closed at $6.21 1/4, down 12 cents, currently up 4 1/2 cents
Mar 24 KCBT Wheat closed at $6.25, down 16 1/2 cents, currently up 4 3/4 cents
Mar 24 MGEX Wheat closed at $7.18, down 10 1/4 cents, currently up 3 cents
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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